San Francisco Based Leader in Micro Savings Provider, EARN Receives $125,000 in a Grant from the Silicon Valley Community Foundation

Based in San Francisco, California, EARN, which is a market leader in providing micro savings services to low income families in the region has announced on July 29, 2010 that it has just received a grant from the Silicon Valley Community Foundation of $125,000 to help low income families in America.

EARN is one of California’s best nonprofit organizations that has won many awards in its charity work in helping low income families save by providing coaches to these families to help low income families have economic prosperity for generations to come. Founded in 2001, EARN is committed to help low income families who are not only in California, but in the entire United States also. The way that EARN helps low income families earn financial prosperity is by providing innovative financial services to these families by providing matching savings and checking accounts, micro-loans, and coaching. Earlier this year, in March, EARN released a white paper that offers the best ways to financially coach people and also explores the fact that financial coaching also depends primarily on behavior than the simple exchange of information of different finances.

Some of the pieces of information in EARN’s white papers include the best recipients for financial coaching and corroborates the mission of the organization to help low income families. One of the sections of the white papers show that the key targets for EARN’s marketing include families who are the recipients of welfare or other government aid, participants in or graduates of matched savings programs, prospective and new small business owners, and others. The white papers published by EARN also mentioned that coaching should be anchored in behavioral changes in the client. Some of these behavioral changes include financial discipline in the client by improving the client’s spending habits and to make smarter financial decisions.

According to EARN’s president and CEO, Ben Mangan, the team at EARN is very grateful to the Silicon Valley Community Foundation for their support in the organization’s efforts in helping low income families enjoy fiscal prosperity for generations to come. With this support, the organization is able to continue its mission to work together with low income California families to help them live prosperous lives. Mr. Mangan further added that the economic woes in the United States continue to plague many American families and that financial coaching can be a promising tool to help Americans who are willing to work hard to improve their financial situation and in long shot, their living standards.

This latest grant from the Silicon Valley Community Foundation follows closely on the heals of a much larger grant to the tune of $500,000 from the Ford Foundation earlier this year.

The Silicon Valley Community Foundation is a fund that leads the way to create innovative solutions which can address most of the problems that affect the Southern California region. The Silicon Valley Community Foundation is an organization that helps the entire Santa Clara and San Mateo counties and currently has over $1.7 billion of assets under its management and manages over 1,500 charitable funds. The Silicon Valley Community Foundation is a community based foundation that has nonprofit purposes and works as a philanthropic center that is based on donors from local businesses and corporations for the betterment of the community in and around Silicon Valley.